In the second quarter, GDP grew 8.4% over the same period last year, which was in line with the flash estimate produced in August but below the 9.5% rise in the first quarter. Although still expanding at a fast pace, the economy decelerated for the first time since September 2009. Growth in the second quarter of the year was mainly driven by domestic demand. Private consumption remained stable at 3.7%, while fixed investment growth expanded 15.1% (Q1: +20.6% year-on-year). Government consumption rebounded from a 0.2% decline in the first quarter to a 1.9% increase in the second. Exports of goods and services increased 31.7% in the second quarter (Q1: +39.4% yoy), while imports expanded 31.1% (Q1: +37.3% yoy). As both export and import growth decelerated at a similar pace, the contribution from external sector to economic growth remained unchanged at 2.6 percentage points. A quarter-on-quarter analysis confirms the deceleration implied by annual figures, as the economy expanded a seasonally and calendar-day adjusted 1.7% over the previous quarter, which was below the 3.1% increase recorded in the first quarter.
Economy remains robust in the second quarter
September 8, 2011
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Estonia Economic News
October 14, 2016
In September, consumer prices inched up from a 0.1% month-on-month increase in August to 0.2%.
September 30, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 1.0% over the same month last year in August, which came in below the 2.2% increase registered in July.
September 8, 2016
In the second quarter, the economy expanded a modest 0.8% over the same quarter of the previous year, according to the revised data published by Statistics Estonia (SE) on 8 September.
September 7, 2016
In August, growth in consumer prices inched up from a flat reading in July to 0.1%.
August 31, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 2.2% over the same month last year in July, which contrasted the revised 3.6% contraction registered in June (previously reported: -4.6% year-on-year).